ENOC group announces exponential retail growth in UAE, Saudi Arabia
ENOC will expand to 124 service stations by 2030 to meet the growing fuel station demand
ENOC Group has announced plans to expand its retail network in the UAE to 191 service stations from the current 129 stations, as well as improve on its local presence in Sharjah, Fujairah and Ras Al Khaimah by reopening service stations. Additionally, the company plans to expand to 124 stations in Saudi Arabia by 2030 to meet the growing fuel station demand in the Kingdom.
Besides opening service stations, ENOC will be concentrating on compact stations, which allows customers accessible and convenient refuelling services. It will be initially offered in Sustainable City with future stations to be located in residential communities by Emaar and Meydan.
According to a statement from the company, it will open 15 new stations across the UAE, with five service stations and three compact stations in Dubai, this year. Meanwhile, it will open five service stations in Sharjah in its reclaimed locations, one new station in Fujairah, one in Ras Al Khaimah and three compact stations.
Saif Humaid Al Falasi, group CEO, ENOC said: “We are also focused on expanding our footprint across the UAE to ensure that the communities we serve have easy and convenient access to fuel and other automotive, F&B and convenience store amenities.”
Next year, ENOC stated it will build a total of 47 service stations, including 25 in Sharjah, four in the northern emirates and 15 in Dubai. The group’s plans are also aimed at meeting the requirements of the Expo 2020 Dubai, for which it is the official partner.
In related news, ENOC will expand its offerings across Saudi Arabia covering east, west and central locations, to boost the quality of infrastructure, especially in rural areas, it stated.
Al Falasi pointed out that: “Our growth plans for the Saudi market come as part of the Group’s retail expansion strategy aimed at not only boosting domestic economic sentiment but also providing an impetus to our international growth plans.”
“We strongly represent continued foreign investments into the Kingdom that rose by 110 per cent in 2018 to reflect the country’s diversification to non-oil industry trade between countries through goods and consumer products.”
He further added that this is an important milestone in their geographic expansion to Saudi Arabia.
ENOC will open 45 new stations over the next five years in the Kingdom. Another 65 new stations will be opened during 2024 to 2028, as well, all of which will have provisions for solar PV panels to be installed on the roof of the canopy, the company said. Meanwhile, as per last year’s plan, ENOC Group will open three new service stations by the end of 2019 and a further 10 by end of 2020.
“We are committed to deliver on the Saudi Vision 2030bobjectives to enhance the country’s infrastructure and provide the highest quality of service standards as well as invest in new stations that offer the full breadth of retail services,” concluded Al Falasi.
